OKLAHOMA CITY, May 22, 2000 /PRNewswire via COMTEX/ --  Joseph Cala, Chairman
and CEO of Cala Corporation (OTC Bulletin Board: CCAA) today announced from
Rome, Italy that negotiations are continuing in Cala Corporation's ongoing
effort to purchase Costanzo Industries of Italy. Mr. Cala stated that he was
confident that the meetings this week in Rome before Prefetto Santoro were both
constructive and positive. Mr. Mauro Zaro, Senior Manager of KPMG Italy, has
been retained by the Cala Corporation to assist with the Costanzo acquisition.
 
Both the current management of Costanzo Industries and Prefetto Santoro, have
expressed a keen interest in expediting and finalizing the acquisition process.
In order to further this goal, Cala Corporation has opened a second office in
the structure that houses KPMG Italy, on the famed financial avenue Via Vittorio
Pisani in Milan, Italy.
 
As previously announced, Costanzo Industries is a leading force in Southern
European construction. Besides their historical concentration in hotel and
resort construction, Costanzo is currently servicing a 14% contractual interest
in a three billion dollar high speed train construction project. This project is
an ongoing collaboration with Fiat (NYSE: FIA) and General Motors (NYSE: GM).
After further review of information provided by Costanzo, the net value of
pending contracts to be honored by Cala Corporation has been revised to $221
million.
 
About Cala Corporation
 
Cala Corporation is a developing international hospitality company with a
corporate emphasis on the ownership, operation and management of hotels,
hotel-based restaurants, and real estate development. Cala Corporation is
currently developing the Undersea Resort and Hotel project with proposed
locations throughout the world.
 
For further information on Cala Corporation, please contact 405-235-4960 or
email in info@calacorporation.com.
 
This press release was prepared on behalf of the Board of Directors, which
accepts full responsibility for its contents.
 
SOURCE Cala Corporation
 
 
 CONTACT:          Cala Corporation, 405-235-4960, or email,
                   info@calacorporation.com
 
 URL:              calacorporation.com